MGM China Holdings Ltd was the biggest sequential gainer in market share of mass table and slot gross gaming revenue (GGR) in Macau in the fourth quarter among the city’s six casino operators.
That is according to a Tuesday memo from Deutsche Bank Securities Inc’s analyst Carlo Santarelli, which cited its research based on operator-declared data.
Operator-reported data for VIP play versus mass play may be classified differently from the manner applied by the city’s casino regulator, the Gaming Inspection and Coordination Bureau.
Based on Deutsche Bank’s research, Galaxy Entertainment Group Ltd was the biggest quarter-on-quarter share gainer in VIP GGR during the final three months of 2024. Sands China Ltd was the biggest donor of VIP share and of mass share in the fourth quarter.
For mass tables and slots business, MGM China was up 70 basis points in GGR, at 15.9 percent, equal to US$999 million. In VIP it was up 3.0 percentage points, to 14.5 percent, equal to US$121 million.
Galaxy Entertainment’s mass market share was circa 10 basis points up, quarter-on-quarter, to 19.4 percent, or just over US$1.22 billion. Galaxy Entertainment outperformed in VIP, with a 6.2 percentage points gain quarter-on-quarter, to capture 23.7 percent of the market, at US$199 million.
Melco Resorts & Entertainment Ltd was up 20 basis points in mass from the third quarter, at 14.3 percent, or US$900 million. In VIP it was down 1.4 percentage points, at 18.2 percent, or US$153 million.
Wynn Macau Ltd was flat sequentially for mass gaming, at 12.2 percent, or US$768 million. The firm had a 2.0 percentage points gain in VIP share, to 19.3 percent, or US$162 million in the fourth quarter.
SJM Holdings Ltd’s mass market GGR market share including slots, was down 40 basis points sequentially in the fourth quarter, to 13.9 percent, or about US$878 million. Its VIP GGR share fell 1.1 percentage points quarter-on-quarter, to 11.3 percent, or US$94 million.
Sands China was down 50 basis points sequentially in the mass segment, at 24.3 percent, or just below US$1.53 billion. In the VIP segment, its share dipped 8.7 percentage points, to 13.1 percent, about US$110 million.
The market-wide VIP percentage shares add up to 100.1 percent, due to rounding.
Macau’s gaming regulator reports GGR from all games of fortune in the local currency, the pataca. In the fourth quarter the aggregate was nearly MOP57.43 billion (US$7.17 billion).
